Category Archives: Business Partnership

There is one aspect of running a business that you cannot avoid, particularly in the commercial industries. Businesses that require commercial machinery also require investments in the form of time, resources, and money. Most often, these business owners rely on loans or financing to cover the cost of the equipment needed to turn a profit.

Whether you are a startup founder looking to stock up your company with the bare necessities, or a well-known business owner wanting to replace your outdated supplies. Typically, banks use a credit score to determine whether or not a person is a dependable borrower. If you are a business owner with a low credit score, you may have a tough time being approved for a loan and obtaining the equipment you need to do business.

Liberty Financial wants you to know that you can still apply for a loan to finance business equipment with bad credit. Here’s how:

Apply with a co-signer. If you have poor credit, the first thing you should do when applying for an equipment loan or financing is to try to find a credible co-signer. If you default on your payments, it then becomes the responsibility of your co-signer to pay what is due.

Offer collateral. If you aren’t able to find a suitable co-signer, offering up collateral can help. Your collateral could come in many forms, including your property or any assets you have that are worth monetary value. These are used in exchange for a loan and as such, allow a lender to feel more secure in offering you financing. If you fail in making your payments as promised, they are able to seize your possessions.

Put down a large deposit. In an effort to look better to lenders, put down a larger down payment or security deposit. Doing so reduces the loan by a sizeable amount and will make the lender feel more secure about loaning the money. Only do so if you have the funds; if you put down too much up front and aren’t able to pay your monthly fee, it could have an adverse effect.

Show off your assets. If your business is already thriving and has started to turn a profit, use that information in your “pitch” to your lender. When you apply for a loan, show documented proof of such to your lender, as well as any sale projections or expected company growth. The better your company looks on paper, the easier it will be to obtain a loan for equipment.

Commercial business owners need equipment. If you’re a business owner with a low credit score, it doesn’t have to stop you from being able to afford the equipment you need to be successful. These tips will help give you the best chance at being approved for a business loan, regardless of your credit.

Starting a business is a wild, exciting, and invigorating journey that requires a lot on your part. Once you’ve succeeded in establishing a business, the next step is to nurture it and watch it grow. This might require hiring a team of people, or branching out into new markets. Whatever the case, these tips for growing your business will help you along your way.

Run the business you want. While you aren’t going to become the business you want to be over night, you should still run your business as if that were a reality. Evoking the confidence and success of the business you one day hope to have will help you impress current clients, attract new ones, and provide your employees with a sense of poise and purpose. Project your business goals each day to help push your company closer to success.

Maintain your confidence. Even when something unexpected happens or something goes awry regarding your business, it’s important to remain positive. When employees or customers see you panic, it can quickly send them into a panic, causing them to question why they work with you. A business cannot run without mishaps. It is how you choose to handle those mishaps that define how you run your business and what the future holds for it. Remain confident, even when things go wrong. Recognizing your mistakes and learning from them will allow your business to grow.

Separate your bank accounts. Keeping your personal funds in an account separate from your business income will help prevent you from taking from that account. You might think that because it’s your business, the money earned and placed into the company bank account is yours as well. Your business requires money, a resource, to continue to grow. When you take money from that account, you are limiting your business to any potential growth. Your business account should be used for just that – business.

Accept “no” as an answer. You are not going to succeed in every endeavor. Take each day in stride, and try your best to learn from your mistakes. What could you have done better to land that client? How can you communicate your message more clearly next time? A “no” from a potential client or investor allows you to evaluate how you are operating your business currently and see opportunities for growth.

Hire the right people. You may feel like you can handle your business on your own, or maybe even like you complete certain tasks the best, but really that’s not the case. In order for your business to grow, you need to hire and properly train the right people. One of the most positive signs of company growth is the need to hire new people. With the right talent on your team, your business will thrive.

Take a look at your competition. Understanding what your competitors are offering their customers and how they do day-to-day business can help you evaluate how you run your own business. It can also help you see potential areas of growth. Make it a priority to check into your competitors marketing strategies and/or new products every quarter. Knowing your competition is one thing, but looking at how they do business will give you a whole new edge.

Know which risks to take. Taking calculated risks (once you’ve evaluated the outcomes, of course) can help take your business to the next level. Consider all of the factors in any given situation, including threats and opportunities, before you make the decision to move forward.

Remember to always remain passionate about your product or industry. Your drive is what will ultimately make or break the successful growth of your business.

The modern-day business meeting, with all its incessant business jargon, has taken on the flair of war room planning in recent years. Only lately could those meeting-of-the-minds in a corporate setting be overheard using such combat-ready clichés as: “we’re not leaving this conference room until we establish a battle rhythm on this project”, “let’s get sales boots on the ground before we place an order with the supplier” or “make sure the entire marketing team attends the upcoming IT boot camp”.

One word in particular has permeated business-speak more than any other, that being the word “strategy”. The origin of the word, from the Greek stratēgia (meaning the function of a general), was to describe the art and science of the planning and conduct of war. Originally applied only by high-ranking military officials, strategy referred to the tactics used to plan for long-term battle success.
With this definition in mind, the Account Managers of Liberty Financial Group, Inc. functions as your personal financial solutions “Generals”, preparing the strategy for your businesses’ long-term financial success.

As an independent direct commercial equipment lender, Liberty Financial Group prides itself on establishing strong relationships with both commercial accounts and commercial equipment vendors. The Account Managers then lead the charge to help their customers meet their financial goals, long-term, buy securing the financing needed to secure equipment purchases in order to grow their business.

What can be accomplished by applying the Liberty Financial strategy to your business?

Improved cash flow– When you finance your equipment needs with Liberty, your cash is not tied up in equipment. It is free for investments that will grow your business, produce income, and insure the equipment you acquire earns profits.

Tax savings — Depending on the type of lease or finance agreement you select, as much as 100% of the payments may be tax deductible.

Preservation of lines of credit – Corporate-Combat is a tricky thing. You never know what unexpected expenses will arise. Liberty adds another source of credit, allowing you to preserve your established borrowing capacity with banks for other needs.

Hedges against inflation — Monthly payments remain the same over the term of the lease or loan. Dollars paid later in the term usually have less purchasing power than those paid in the beginning of the term… so you pay for today’s equipment needs with tomorrow’s lower value dollars. Sounds like a battle plan to me.

The Tree Care Industry Association, a trade leader in the advancement and professional development of the green industry, has honored Liberty Financial Group with a comprehensive article in its June trade publication. In it, the TCIA, as it is known, recognized Liberty Financial Group for its devotion to the tree care businesses that rely on the financial support provided by Liberty Financial Group.

“If a tree care company contacts us directly, we get them pre-approved either for a dollar amount that they can go shopping with or, if they contact us through a vendor, we get them financing for the specific machine”, quoted Liberty Financial sales representative Philip McCurkin while at the recent TCIA Expo.

Mr. McCurkin explained that Liberty Financial further supports the industries small businesses by offering seasonal programs, and can structure the loan for slow periods. Deferred payment loans allows a tree care business to buy machinery in the winter when prices are low, but not start making payments until the spring when the season starts. “We can get those deals done, which is a huge advantage to us” adds McCurkin.

Further differentiating themselves from national and local banks who are not committed to the needs of small businesses: credit approval from Liberty Financial can take days, as opposed to a month or more, which is common in your traditional lending establishments.

“Banks, in general, are difficult to deal with”, states Liberty Financial President, G. Thomas Madonna. Madonna started the company as Omni Leasing in 1986 as a finance company for tree and landscape companies locally in Pennsylvania and New Jersey, selling mostly chippers and grinders and other small ticket equipment. Madonna knew that the market had room for growth, but noticed that banks were difficult to deal with. “We use external banks as well, but we aren’t married to one bank”, notes Madonna.

Liberty Financial Group provides direct equipment financing and leasing to most industries. Specializing in the transportation and the construction industry, we have the capability to fund technology equipment, industrial equipment, medical equipment and much more.Contact us for more information on equipment financing, or call 800.422.1844 (215.996.5656).